The government of Ghana has officially resumed payments on its Eurobond debts following the successful completion of a debt exchange program with bondholders.
The Ministry of Finance announced that it has made a total payment of $520 million, which includes a $120 million consent fee for bondholders who agreed to the exchange terms.
Further, through the restructuring of $13 billion in Eurobond debt, Ghana achieved a 98% participation rate from bondholders, allowing for the resumption of payments.
“Regular coupon payments are arrange to start in January 2025, with the next payment anticipated in July 2025. The Bank of Ghana has assured that it possesses sufficient dollar reserves to facilitate these payments.”
Additionally , Dr Amin Adam announced the establishment of a Sinking Fund to help manage the fiscal pressures associated with the repayments.
Meanwhile, Ghana plans to begin servicing its debts to bilateral creditors in 2026.
SOURCE;Citinewsroom
